trading range, page-6

BigAl,


I appreciate guest Jonathan Barrett is suppose to be an expert on these affairs, but by the sound of things he is reading from a hymn sheet, but doesn't understand the words.

1/ No mention of Libya, only a couple of weeks ago they were arranging to import oil from Malta, as they have a few labour disputes and currently aren't producing/exporting oil.

2/ Egypt, stopped exporting due to social unrest.

3/Keystone and Seaway pipelines from Cushing to the Gulf Coast are due for start up this year, which should negate the WTI/Brent spread.

3/ He states the BAHA #2 well as recent find? That well was drilled in 2001, by reading the article, and it was a dry hole, but key, very informative well.

4/ He claims it is a recent find by Texaco. Chevron and Texaco merged, when? Around 2001 I believe. Texaco doesn't exist any more.

So as he does not understand the past, he does not understand the present, I find it hard to put too much faith on what he says about the future.

I do agree that in the short term the price of oil will settle down if Syria settles down, but we will just have to wait and see if that happens, as Syria or Iran could blow up at any time. Time will tell, but it is a very volatile middle east these days.